FineMark National Bank & Trust Acquires 719 Shares of Salesforce, Inc. (NYSE:CRM)

FineMark National Bank & Trust boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 81.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,606 shares of the CRM provider’s stock after acquiring an additional 719 shares during the quarter. FineMark National Bank & Trust’s holdings in Salesforce were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. State Street Corp boosted its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Salesforce by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider’s stock worth $2,028,164,000 after acquiring an additional 153,500 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Scotiabank reduced their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Northland Securities reissued an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $362.74.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,875 shares of company stock worth $13,580,649 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

CRM opened at $280.93 on Thursday. The company’s 50 day moving average is $311.35 and its 200 day moving average is $310.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $269.97 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.